Sunnyvale CA. Market Update, Dec. 27th

Sunnyvale Ca. Market Update 12-27-08

As of this morning here is a snapshot of the inventory of homes in Sunnyvale:

Single Family Homes:
130 Active listings
56 Pending Sales
4 homes sold in last 7 days

Condos/Town homes:
76 Active Listings
20 Pending Sales
2 Closed sales in last 7 days

What does this mean? Right now the market in single family homes is better than condos, as evidenced by a better ratio of active to pending listings. Otherwise, there is not much we can garner from these numbers. There wouldn't normally be too many closed sales at the end of the year because of the holidays. The inventory of both classes is shrinking, but that is to be expected as most sellers do not put their homes on the market at this time of year, preferring to wait until after the New Year. I will have a better idea of where the market is going a few weeks into January. If the inventory goes up a lot faster than the pending sales, we will see price declines. If the inventory stays the same and pending sale rate stays the same, we should have some stability in prices. If the inventory goes down and pending sales stay the same or increase, we could see some appreciation. I am not betting on any of those scenarios over another at this point.

If you are interested in finding the final selling price of any home, anywhere, you can do it on my web site. Go to http://www.marcymoyer.com/ and click on Cyberhome Home Valuation. You can then typed in any address and get the county records.

If you need anything else please feel free to contact me. I am here to help you.

Marcy Moyer Intero Real Estate
marcy@marcymoyer.com
650-619-9285
www.marcymoyer.com